0001235468-20-000212.txt : 20201228
0001235468-20-000212.hdr.sgml : 20201228
20201228160614
ACCESSION NUMBER: 0001235468-20-000212
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20201223
FILED AS OF DATE: 20201228
DATE AS OF CHANGE: 20201228
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Shaffer Mark A
CENTRAL INDEX KEY: 0001677053
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-51813
FILM NUMBER: 201418453
MAIL ADDRESS:
STREET 1: C/O LIQUIDITY SERVICES, INC.
STREET 2: 1920 L STREET, N.W., 6TH FLOOR
CITY: WASHINGTON
STATE: DC
ZIP: 20036
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: LIQUIDITY SERVICES INC
CENTRAL INDEX KEY: 0001235468
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389]
IRS NUMBER: 522209244
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0930
BUSINESS ADDRESS:
STREET 1: 6931 ARLINGTON ROAD
STREET 2: SUITE 200
CITY: BETHESDA
STATE: MD
ZIP: 20814
BUSINESS PHONE: 2024676868
MAIL ADDRESS:
STREET 1: 6931 ARLINGTON ROAD
STREET 2: SUITE 200
CITY: BETHESDA
STATE: MD
ZIP: 20814
4
1
wf-form4_160918955947364.xml
FORM 4
X0306
4
2020-12-23
0
0001235468
LIQUIDITY SERVICES INC
LQDT
0001677053
Shaffer Mark A
C/O LIQUIDITY SERVICES, INC.
6931 ARLINGTON ROAD, SUTIE 200
BETHESDA
MD
20814
0
1
0
0
Chief Legal Officer & Corp Sec
Common Stock
2020-12-23
4
M
0
9627
4.47
A
31234
D
Common Stock
2020-12-23
4
M
0
10944
4.47
A
42178
D
Common Stock
2020-12-23
4
M
0
12656
6.11
A
54834
D
Common Stock
2020-12-23
4
F
0
9384
18.04
D
45450
D
Employee Stock Option
8.3
2026-10-01
Common Stock
5250.0
5250
D
Employee Stock Option
8.3
2026-10-01
Common Stock
5250.0
5250
D
Employee Stock Option
4.47
2020-12-23
4
M
0
10944
0
D
2027-10-01
Common Stock
18240.0
7296
D
Employee Stock Option
4.47
2020-12-23
4
M
0
9627
0
D
2027-10-01
Common Stock
12160.0
2533
D
Employee Stock Grant
2021-10-01
Common Stock
744.0
744
D
Employee Stock Grant
2021-10-01
Common Stock
310.0
310
D
Employee Stock Option
6.11
2028-10-01
Common Stock
31150.0
31150
D
Employee Stock Grant
2023-01-01
Common Stock
5050.0
5050
D
Employee Stock Option
6.11
2020-12-23
4
M
0
12656
0
D
2028-10-01
Common Stock
31150.0
18494
D
Employee Stock Grant
2023-01-01
Common Stock
3787.0
3787
D
Employee Stock Option
6.69
2029-12-03
Common Stock
29200.0
29200
D
Employee Stock Option
6.69
2029-12-03
Common Stock
29200.0
29200
D
Employee Stock Grant
2024-01-01
Common Stock
12250.0
12250
D
Employee Stock Grant
2024-01-01
Common Stock
12250.0
12250
D
Employee Stock Option
9.46
2030-12-01
Common Stock
42400.0
42400
D
Employee Stock Option
9.46
2030-12-01
Common Stock
42400.0
42400
D
Employee Stock Grant
2025-01-01
Common Stock
7650.0
7650
D
Employee Stock Grant
2025-01-01
Common Stock
7650.0
7650
D
This transaction reflects an exercise of options granted under the Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan and the Stock Option Agreement dated December 11, 2017.
This transaction reflects an exercise of options granted under the Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan and the Stock Option Agreement dated December 4, 2018.
The reporting person surrendered 9,384 shares with a market value of $169,280.53 to the Issuer to pay the purchase price of the shares.
These options became fully exercisable on October 1, 2020.
These options become exercisable, if at all, based on the issuer's achievement of certain financial milestones.
These options become exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock
15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty-three months.
Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
These restricted stock units vest, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
Twenty-five percent of this restricted stock unit grant vested on January 1, 2019 and thereafter, an additional 1/4th vests on each of October 1, 2019, October 1, 2020, and October 1, 2021.
15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
Twenty-five percent of this restricted stock unit grant vested on January 1, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 1, 2023.
12/48th of this option grant will vest on January 1, 2021 and thereafter, an additional 1/48th will vest each month for thirty-six months.
Twenty-five percent of this restricted stock unit grant will vest on January 1, 2021 and thereafter, an additional 1/4th will vest on each of January 1, 2022, January 1, 2023 and January 1, 2024.
12/48th of this option grant will vest on January 1, 2022 and thereafter, an additional 1/48th will vest each month for thirty-six months.
This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
Twenty-five percent of this restricted stock unit grant will vest on January 1, 2022 and thereafter, an additional 1/4th will vest on each of January 1, 2023, January 1, 2024 and January 1, 2025.
/s/ Mark A. Shaffer
2020-12-28